Are Uber and Lyft Driving in Different Directions?
Investors got mixed messages from the ridesharing industry last week. The market initially cheered Lyft's (NASDAQ: LYFT) better-than-expected second-quarter results, only to be let down by Uber's (NYSE: UBER) ho-hum financial update a day later.
Shares of Lyft soared as much as 9% the day after it posted its fresh financials, settling for a 3% gain by the end of the trading session. Uber stock took a 7% plunge the next day, as it failed to boost its margins and posted weaker-than-expected top- and bottom-line results.
It would definitely seem as if Uber and Lyft are going in different directions at first glance, but pull back and things start to look different. Lyft shares rose by less than 1% for all of last week. Uber stock limited its weekly slide to less than 1%. Both stocks also kicked off this week by falling sharply on Monday.
Source Fool.com
